MGT 499 WK 3: Actions for Strategy Planning and Formulation

Strategy Planning and formulation
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Strategy Planning and formulation
There are a number of strategies which have helped some business organizations such as Samsung and Apple to become more successful than other companies in their industry. Apple and Samsung are among the largest technology companies in the world. However, Samsung is certainly the king of mobile phones, as it holds the lion’s share of the market globally and in America (Lashinsky, 2015). With regard to the marketing strategies, Samsung employs promotional pricing tactics so as to sustain its competitive edge over its competitors particularly Apple. Samsung also utilizes skimming price and competitive pricing. Samsung smart phones are leading the market along with iPhone smart phones from Apple. In order to get the upper hand over its competition, Samsung makes use of skimming price. For example, S6 Edge and Galaxy S6 are Samsung’s new products, marketed with the catchphrase Next is Now, and asserting that these 2 are the most gorgeous smart phones ever made. At $1,180, the S6 with 64GB will sell well globally. When the competition launches a smart phone that has similar features, Samsung reduces the price in order to easily steal consumers from the competition (Brown & Doebele, 2014).
Because of the ever-changing preferences and wants of cust...